PVTIME – Huaneng Power International, Inc. (“HPI”, or the “Company”) (NYSE: HNP; HKEx: 902; SSE: 600011) announced on June 17 that the Company has notified the New York Stock Exchange (“NYSE”) on June 17, 2022 (Eastern Time in the U.S.) that it will apply for the voluntary delisting of its American depositary shares (“ADSs”) from the NYSE and the deregistration of such ADSs and underlying overseas listed shares, par value RMB1.00 per share (the “H Shares”), under the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). The board of directors of the Company approved the delisting of its ADSs from NYSE and the deregistration of such ADSs and the underlying H Shares under the Exchange Act due to a number of considerations, including the limited trading volume of its ADSs relative to the worldwide trading volume of its H Shares, and the considerable administrative burden and costs of maintaining the listing of the ADSs on the NYSE, the registration of the ADSs and the underlying H Shares with the United States Securities and Exchange Commission (the “SEC”) and complying with the periodic reporting and related obligations of the Exchange Act.
As such, the Company intends to file a Form 25 with the SEC on or about June 27, 2022 to de-list its ADSs from the NYSE. The delisting of the ADSs from the NYSE is expected to become effective ten days thereafter. The last day of trading of the ADSs on the NYSE will be on or about July 7, 2022. From and after that, the Company will no longer list its ADSs on the NYSE.
Once the delisting has become effective and the Company has met the criteria for deregistration, the Company intends to file a Form 15F with the SEC on or about July 7, 2022 to deregister the underlying H Shares under the Exchange Act. Thereafter, all of the Company’s reporting obligations under the Exchange Act will be suspended unless the Form 15F is subsequently withdrawn or denied. Deregistration with the SEC and termination of the Company’s reporting obligations under the Exchange Act are expected to become effective 90 days after its filing of Form 15F with the SEC. Once the Form 15F is filed, the Company will publish the information required under Rule 12g3-2(b) of the Exchange Act on its website, https://www.hpi.com.cn/sites/english/announcementH/publish.aspx. The Company will also continue to comply with its financial reporting and other obligations as a listed-issuer under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”).
The Company intends to terminate its ADS program after delisting its ADSs from the NYSE and the deregistration of the underlying H Shares in due course in accordance with the deposit agreement.
The Company reserves its rights in all respects to delay or withdraw the aforementioned filings prior to their effectiveness and will issue any further announcement if required under the Listing Rules or other applicable laws.
 (NYSE: HNP; HKEx: 902; SSE: 600011) announced on June 17 that the Company has notified the New York Stock Exchange (“NYSE”)…){kind=link}